Filing Flows › Mid America Apartment Communities (MAA) › Q4 2025
Mid America Apartment Communities (MAA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 6, 2026
Mid America Apartment Communities (MAA) reported revenue of $556M for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +0.2% from the quarter before. Operating margin was 10.5%, net earnings $57.6M (10.4% of revenue).
Mid America Apartment Communities, Q4 2025: revenue $556M (+1% year over year), operating margin 10.5%, net earnings $57.6M, operating cash flow $262M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $556M | +0.2% | +1% |
| Operating profit | $58.4M | -44% | -66% |
| Net earnings | $57.6M | -42% | -65% |
| Operating cash flow | $262M | -2% | +9% |
| Free cash flow | $159M | -7% | +4% |
What changed
Revenue was $555.6M in Q4 2025, up 1% year over year and roughly flat from the previous quarter. Same Store was the largest line at 93% of revenue.
Operating profit was $58.4M, a 10.5% margin (down 20.8 points year over year). Operating profit fell $113.9M even though revenue rose $5.7M versus Q4 2024, so costs grew faster than sales. Total costs grew 32% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+33%). Net earnings were $57.6M, down 65% year over year. The effective tax rate was 2.0%.
Operating cash flow was $261.7M (up 9% year over year), 457% of net earnings. Non-cash charges added back $159.9M of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items added $39.8M. Capital expenditures of $103.1M left free cash flow of $158.6M.
Questions
What was Mid America Apartment Communities' revenue in the fourth quarter 2025?
Mid America Apartment Communities (MAA) reported revenue of $556M for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +0.2% from the quarter before.
Was Mid America Apartment Communities profitable in the fourth quarter 2025?
Operating profit was $58.4M (10.5% of revenue) and net earnings $57.6M.
Source: Mid America Apartment Communities 10-K on SEC EDGAR.